We See the Risks

So You Don’tHave To

OUR TAX SPECIALISTS CAN GUIDE YOUR PATH

Taxes should, and do, impact a significant number of your business and personal decisions. Because of this, having a solid understanding of your tax situation and the tax implications of your different financial decisions is key to minimizing tax consequences and obligations.

Tax planning is the best way to ensure you aren’t stuck paying too much or too little tax when it’s time to file your return. Our tax professionals have both the expertise and experience to analyze your situation and then guide you through the most efficient tax plan for you.

Discover How We Can Help Your Business! Schedule an Initial Consultation:

TAX SPECIALTY SERVICES

Entity Choice

A number of factors influence your entity choice decision, such as liability protection, fringe benefits, payroll tax savings, and long- and short-term business goals. We can evaluate your situation in terms of each of these factors and help you make the right decision.

Estate and Trust Planning

In order to protect your well-earned assets, you must create and then implement measures that align the execution of your estate with your long-term goals. We can assist you both in designing your estate and trust plans and then in executing these plans.

Penalty Abatement

Many individuals assume that they have no recourse with regard to penalties that may be imposed. We investigate such claims on your behalf to determine if the penalty has been assessed correctly and if you have any other alternatives.

Retirement Planning

As noted by the Cheshire cat in Alice in Wonderland, “If you don’t know where you’re going, does it really matter which road you take?” Our tax specialists can help you both define your retirement goals and then implement those measures that will take you directly towards your goals.

Tax Needs Assessment

As with any question or concern you may have, your best course of action is to see a specialist who can fully assess your situation and then offer you a solution. Your tax questions and concerns are no exception. By both examining your records and weighing your goals, our tax specialists can show you what steps you need to take to achieve your goals in the most cost-efficient way possible.

Tax Representation

In the event that you are required to report to IRS authorities, we can assume the responsibility of representing you. By working directly with the authorities on your behalf, we abate your anxieties, offer appropriate explanations, and work to expedite the process.

Tax Provision Preparation and Tax Accounting Services (FAS 109)

Tax provision preparation and income tax accounting continue to increase in complexity and also continue to receive intense scrutiny. Income tax accounting is an often-cited issue in reported material weaknesses. Our income tax accounting experts can help navigate the complexities and compliance needs of your company when it comes to accounting for income taxes under FAS 109 (including FIN 48).

TAX PROVISION AND REVIEW SERVICES

Tax provisions continue to be a leading cause of material weaknesses and restatements. Our tax provision preparation and review services can help minimize the potential exposures for your company.

At Larson & Company, our talented team of professionals are dedicated to providing you with the high-quality service you can expect from our many years of experience and expertise. We give you the service you need at a price that accommodates your company’s unique situation.

Prior to the passage of the auditor independence rules as part of the Sarbanes-Oxley Act (“SOX”) in 2002, many companies relied on their auditors to assist in the preparation of their income tax provision and tax footnote. However, SOX severely limited the amount of assistance auditors could provide to a client, especially in areas where the auditor had to maintain independence. One of the areas most affected by the SOX auditor independence rules was that auditors could no longer prepare or assist in the preparation of a company’s income tax provision and tax footnote. As a result of not being able to rely on their auditors, many companies found that they lacked sufficient in-house resources to prepare and review their tax provision and tax footnote. Because of the lack of in-house resources, internal review, the technical complexities of ASC 740 (FAS 109 tax provision), FIN 48 (uncertain tax positions), and FAS 123(R) (stock-based compensation), tax provisions became one of the leading causes of material weaknesses and restatements.

Highly Skilled and Experienced In Tax Services:

Over 55 years of combined experience and expertise

Strong technical skills in tax and GAAP accounting knowledge

ASC 740 / FAS 109 (tax provisions and accruals)

FIN 48 (uncertain tax positions)

FAS 123(R) (stock-based compensation)

Specialized knowledge in the taxation of insurance companies and statutory accounting